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2148 Crest Wood Drive Conyers, GA 30094

4 Beds 3 Baths 2,519 sqft Built 2004

$349,000

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $138.55
  • 5 Days on Market
  • MLS # : 6823123
  • Updated Date : 01/07/2021 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,519 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

This 3-sided brick home in well-established & maintained neighborhood features master suite on main level with over-sized jacuzzi tub, sitting area & attached office. Full unfinished daylight basement provides ample storage/workshop and is stubbed for an additional bathroom. Highlights include real hardwood floors, kitchen with ample counter/cabinet space, granite countertops, tile backsplash, & pantry opening up to large, cozy living room & separate dining room. 3 spacious bedrooms upstairs with a loft overlooking the living room below. Enjoy beautiful sunrises &

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro's economy is worth $403 billion in Gross Metro Product and projected to grow to $426 billion in 2019 (USMayors.org, 2018)
  • Headquarters to twenty-six Fortune 500 companies: The Home Depot, UPS, Delta Air Lines, The Coca-Cola Company, SunTrust Banks, The Southern Company, AGCO, PulteGroup (Fortune, 2018/ Metro Atlanta Chamber)
  • Atlanta city attracted $1 billion venture capital in 2018. Venture capital flow has resulted in additional employment in technology areas. (USA Today, 2019).
  • #1 World’s Busiest Airport(Airports Council International, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)

PRICE & RENT TRENDS

Neighborhood: Deerwood

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $90k322k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Deerwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900200021002200Rent in $8632210

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Lorraine Elementary School Primary Regular 720 45 7
General Ray Davis Middle School Middle Regular 1,012 62 6
Salem High School High Regular 1,370 69 4

Lorraine Elementary School

  • Education Level: Primary
  • # of students: 720
  • # of teachers: 45
7
GreatSchools Rating

General Ray Davis Middle School

  • Education Level: Middle
  • # of students: 1,012
  • # of teachers: 62
6
GreatSchools Rating

Salem High School

  • Education Level: High
  • # of students: 1,370
  • # of teachers: 69
4
GreatSchools Rating
 

$314,100$383,900$349,000

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,212
Property Tax -$400
Property Insurance -$76
HOA -$33
Property Management Fees -$119
CASH FLOW
$330

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$349,000

PROJECTED PRICE

$2,170

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,235

INVESTMENT

$98,235

Down Payment
$87,250
Rehab Estimate
$5,750
Closing Costs
$5,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,212

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,250
Loan Amount $261,750
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$42,466

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,170

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,839

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$2,170
$2,170
RENT COMPS ANALYSIS
  • 2148 Crest Wood Drive Conyers, GA 2
    • 4 beds 3 baths ∙ 2,519 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,519 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.86
    •  
  • 5001 Se Bridlewood Circle Conyers, GA 1
    • 3 beds 2 baths ∙ 2,196 Sqft ∙ Built 1987 3 beds 2 baths ∙ 2,196 Sqft ∙ Built 1987
    property image
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.73
    •  
PROPERTY LISTING DETAILS
Joseph Hamilton
1.770.630.1589
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6823123
Last Updated: 01/07/2021
support@investimateroi.com

Listings identified with the FMLS IDX logo come from FMLS, are held by brokerage firms other than the owner of this website and the listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. © 2017 First Multiple Listing Service, Inc.

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